KONTAN.CO.ID - SINGAPORE. Gold prices climbed more than 1% on Monday as dramatic clashes between Israeli and Hamas forces over the weekend raised the risk of a wider Middle East conflict and spurred a rush to safe-haven investments like bullion. Israel pounded the Palestinian enclave of Gaza on Sunday, killing hundreds of people in retaliation for one of the bloodiest attacks in its history when Islamist group Hamas rampaged through Israeli towns on Saturday. Spot gold jumped 1.2% to $1,853.79 per ounce by 0621 GMT, having hit its highest level in a week. U.S. gold futures climbed 1.2% to $1,867.80.
Gold Soars as Investors Bolt for Safety After Middle East Clashes
KONTAN.CO.ID - SINGAPORE. Gold prices climbed more than 1% on Monday as dramatic clashes between Israeli and Hamas forces over the weekend raised the risk of a wider Middle East conflict and spurred a rush to safe-haven investments like bullion. Israel pounded the Palestinian enclave of Gaza on Sunday, killing hundreds of people in retaliation for one of the bloodiest attacks in its history when Islamist group Hamas rampaged through Israeli towns on Saturday. Spot gold jumped 1.2% to $1,853.79 per ounce by 0621 GMT, having hit its highest level in a week. U.S. gold futures climbed 1.2% to $1,867.80.